Internet of Vehicle Market to Witness an Outstanding Growth during 2017-2024 - Audi, Intel

Internet of Vehicle market was valued at $66,075 million in 2017 and is estimated to reach $208,107 million by 2024, growing at a CAGR of 18.00% from 2018 to 2024. Internet of Vehicles refers to the automation of vehicles, which involves the implementations of IoT technologies into vehicles. The internet of vehicle market growth is expected to witness high demand, owing to rise in technological upgrades in the automotive industry, rising internet penetration, the introduction of Logistics4.0, and increase in awareness about safety measures across the globe. The Internet of Vehicles (IoV) technology is a pioneering technological innovation that is expected to revolutionize the automotive market. IoT refers to the technology that has various dynamics and communicates between public and vehicle networks using V2V (vehicle-to-vehicle), V2R (vehicle-to-road), V2H (vehicle-to-human), and V2S (vehicle-to-sensor) interactions.

Major Key Players of the Internet of Vehicle Market are:
Ford Motor Co, Texas Instruments Inc., Audi AG, Intel Corporation, SAP, NXP semiconductors, Apple Inc., Google Inc., IBM Corporation, and Cisco Systems Inc

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